Master of Waves

Protection from red
Elemental creatures you control get +1/+1.
When Master of Waves enters the battlefield, create a number of 1/0 blue Elemental creature tokens equal to your devotion to blue. (Each {U} in the mana costs of permanents you control counts toward your devotion to blue.)

Spell Pierce

Counter target noncreature spell unless its controller pays {2}.

Mind Spring

Bident of Thassa

Whenever a creature you control deals combat damage to a player, you may draw a card.
{1}{U}, {T}: Creatures your opponents control attack this turn if able.

Whispersilk Cloak

Equipped creature can't be blocked and has shroud. (It can't be the target of spells or abilities.)
Equip {2}

Aquitect's Will

Put a flood counter on target land. That land is an Island in addition to its other types for as long as it has a flood counter on it. If you control a Merfolk, draw a card.

Strata Scythe

Imprint — When Strata Scythe enters the battlefield, search your library for a land card, exile it, then shuffle.
Equipped creature gets +1/+1 for each land on the battlefield with the same name as the exiled card.
Equip {3}

Blackblade Reforged

Equipped creature gets +1/+1 for each land you control.
Equip legendary creature {3}
Equip {7}

Traveler's Cloak

Enchant creature
As Traveler's Cloak enters the battlefield, choose a land type.
When Traveler's Cloak enters the battlefield, draw a card.
Enchanted creature has landwalk of the chosen type. (It can't be blocked as long as defending player controls a land of that type.)

Vodalian Hexcatcher

Flash
Other Merfolk you control get +1/+1.
Sacrifice a Merfolk: Counter target noncreature spell unless its controller pays {1}.

Merfolk Observer

When Merfolk Observer enters the battlefield, look at the top card of target player's library.

Crashing Tide

This spell has flash as long as you control a Merfolk.
Return target creature to its owner's hand.
Draw a card.

Deny Existence

Counter target creature spell. If that spell is countered this way, exile it instead of putting it into its owner's graveyard.

River Merfolk

{U}: River Merfolk gains mountainwalk until end of turn. (It can't be blocked as long as defending player controls a Mountain.)

River Sneak

River Sneak can't be blocked.
Whenever another Merfolk enters the battlefield under your control, River Sneak gets +1/+1 until end of turn.

Stonybrook Banneret

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Merfolk spells and Wizard spells you cast cost {1} less to cast.

Emperor Mihail II

You may look at the top card of your library any time.
You may cast Merfolk spells from the top of your library.
Whenever you cast a Merfolk spell, you may pay {1}. If you do, create a 1/1 blue Merfolk creature token.

Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Unwind

Counter target noncreature spell. Untap up to three lands.

Wanderwine Prophets

Champion a Merfolk (When this enters the battlefield, sacrifice it unless you exile another Merfolk you control. When this leaves the battlefield, that card returns to the battlefield.)
Whenever Wanderwine Prophets deals combat damage to a player, you may sacrifice a Merfolk. If you do, take an extra turn after this one.

Drag Under

Return target creature to its owner's hand.
Draw a card.

Sage of Fables

Each other Wizard creature you control enters the battlefield with an additional +1/+1 counter on it.
{2}, Remove a +1/+1 counter from a creature you control: Draw a card.

Lord of Atlantis

Other Merfolk get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

High Tide

Until end of turn, whenever a player taps an Island for mana, that player adds an additional {U}.

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Quicksilver Fountain

At the beginning of each player's upkeep, that player puts a flood counter on target non-Island land they control of their choice. That land is an Island for as long as it has a flood counter on it.
At the beginning of each end step, if all lands on the battlefield are Islands, remove all flood counters from them.

Inundate

Return all nonblue creatures to their owners' hands.

Confound

Counter target spell that targets a creature.
Draw a card.

Kopala, Warden of Waves

Spells your opponents cast that target a Merfolk you control cost {2} more to cast.
Abilities your opponents activate that target a Merfolk you control cost {2} more to activate.

Drowner of Secrets

Tap an untapped Merfolk you control: Target player mills a card.

Merrow Commerce

At the beginning of your end step, untap all Merfolk you control.

Silvergill Adept

As an additional cost to cast this spell, reveal a Merfolk card from your hand or pay {3}.
When Silvergill Adept enters the battlefield, draw a card.

Seahunter

{3}, {T}: Search your library for a Merfolk permanent card, put it onto the battlefield, then shuffle.

Island

Saprazzan Heir

Whenever Saprazzan Heir becomes blocked, you may draw three cards.

Aetherize

Return all attacking creatures to their owner's hand.

Ominous Seas

Whenever you draw a card, put a foreshadow counter on Ominous Seas.
Remove eight foreshadow counters from Ominous Seas: Create an 8/8 blue Kraken creature token.
Cycling {2} ({2}, Discard this card: Draw a card.)

Dissipation Field

Whenever a permanent deals damage to you, return it to its owner's hand.

Into the Roil

Kicker {1}{U} (You may pay an additional {1}{U} as you cast this spell.)
Return target nonland permanent to its owner's hand. If this spell was kicked, draw a card.

Merrow Levitator

{T}: Target creature gains flying until end of turn.
Whenever you cast a blue spell, you may untap Merrow Levitator.

Kiora's Dismissal

Strive — This spell costs {U} more to cast for each target beyond the first.
Return any number of target enchantments to their owners' hands.

Merfolk Sovereign

Other Merfolk creatures you control get +1/+1.
{T}: Target Merfolk creature can't be blocked this turn.

Seal of Removal

Sacrifice Seal of Removal: Return target creature to its owner's hand.

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Baral's Expertise

Return up to three target artifacts and/or creatures to their owners' hands.
You may cast a spell with mana value 4 or less from your hand without paying its mana cost.

Deepwater Hypnotist

Inspired — Whenever Deepwater Hypnotist becomes untapped, target creature an opponent controls gets -3/-0 until end of turn.

Volshe Tideturner

{T}: Add {U}. Spend this mana only to cast an instant or sorcery spell or a kicked spell.

Dakra Mystic

{U}, {T}: Each player reveals the top card of their library. You may put the revealed cards into their owners' graveyards. If you don't, each player draws a card.

Cloak of Feathers

Target creature gains flying until end of turn.
Draw a card.

Simic Fluxmage

Evolve (Whenever a creature enters the battlefield under your control, if that creature has greater power or toughness than this creature, put a +1/+1 counter on this creature.)
{1}{U}, {T}: Move a +1/+1 counter from Simic Fluxmage onto target creature.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Merfolk Windrobber

Flying
Whenever Merfolk Windrobber deals combat damage to a player, that player mills a card. (They put the top card of their library into their graveyard.)
Sacrifice Merfolk Windrobber: Draw a card. Activate only if an opponent has eight or more cards in their graveyard.

Brineborn Cutthroat

Flash (You may cast this spell any time you could cast an instant.)
Whenever you cast a spell during an opponent's turn, put a +1/+1 counter on Brineborn Cutthroat.

Beyeen Coast

Beyeen Coast enters the battlefield tapped.
{T}: Add {U}.

Beyeen Veil

Creatures your opponents control get -2/-0 until end of turn.

Beyeen Veil // Beyeen Coast

Predict

Choose a card name, then target player mills a card. If a card with the chosen name was milled this way, you draw two cards. Otherwise, you draw a card.

Cleric of Chill Depths

Whenever Cleric of Chill Depths blocks a creature, that creature doesn't untap during its controller's next untap step.

Stoneforge Masterwork

Equipped creature gets +1/+1 for each other creature you control that shares a creature type with it.
Equip {2}

Svyelun of Sea and Sky

Svyelun of Sea and Sky has indestructible as long as you control at least two other Merfolk.
Whenever Svyelun attacks, draw a card.
Other Merfolk you control have ward {1}. (Whenever another Merfolk you control becomes the target of a spell or ability an opponent controls, counter it unless that player pays {1}.)

Dissolve

Counter target spell. Scry 1. (Look at the top card of your library. You may put that card on the bottom of your library.)

Kefnet's Monument

Blue creature spells you cast cost {1} less to cast.
Whenever you cast a creature spell, target creature an opponent controls doesn't untap during its controller's next untap step.